Question

On August 1, 2019, a firm purchased a 1-year insurance policy for $5,700 and paid the...

On August 1, 2019, a firm purchased a 1-year insurance policy for $5,700 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2019, is

Multiple Choice

  • $1,900.

  • $5,700.

  • $3,325.

  • $2,375.

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Answer #1

On August 1, 2019, a from purchased a 1-year insurance policy for $57007 1 year expense of insurance = $5700 - 1 month expens

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